Rewards programmes have been around for at least a century now, but their significance was never more appreciated. The growing realisation of the importance of loyalty continues to spawn a plethora of loyalty programmes in every industry. The good news is that more and more customers are enrolling themselves into these programmes.
Companies spend billions of Pounds in their efforts to improve their customer engagement and to encourage customer loyalty. That makes loyalty programmes one of the most significant business investments. Naturally, they expect this investment to reap sizeable returns too.
However, most of the loyalty programmes fail to produce those returns.